Once you have established WHO your target market is and found a problem they have in common, it is time to develop a solution they will be willing to pay for. After all, your ultimate goal is to create an online business that generates a profit, right?
Unfortunately, this is a point where a lot of people find themselves stuck. How do you develop your own product or service? What if you do not WANT to develop your own product? Then what? How do you contact product manufacturers and distributors to ask if you can sell their products? Do not sweat it! There are actually LOTS of ways to make money online.
This is exactly HOW you can make money with a few different approaches we think are most valuable, worth your time, and not already a completely saturated market.
Sell others products by purchasing reprint rights and master licenses.
If your goal in searching for a product to sell on the Internet is to find one that can start earning you an income right away, you might want to take a look at purchasing the reprint or resell rights to someone else's product.
Here are some of the more popular kinds of products that offer rights you can buy:
There are different types of rights available for purchase. If you buy resell rights to a product, you get permission to sell someone else's product for them in exchange for a percentage of each sale. Reprint rights, on the other hand, give you the right to reproduce as many copies of the product as you wish and you can keep 100% of the proceeds from each sale. However, they are a little more expensive than resell rights.
Master rights are the most valuable form of rights available. When you buy the master rights to a product, not only can you reproduce the product and keep 100% of the profits, you can also sell the reprint rights to the product to other people!
If you are just getting started with a new online business, purchasing the resell or reprint rights for an already existing product is a great way to begin. All you need to get your sales rolling is a simple web page with targeted sales copy. Once you have built up a solid base of customers, you can develop new products to offer them and keep those profits pouring in!
THE most profitable thing you can sell online.
If you decide to sell products that require physical delivery, you are going to need to deal with stocking, packaging, and shipping costs, all of which will eat into your profit margin. That is why the single most profitable thing to sell online is a product that can be delivered electronically! Here are more reasons why:
E-products are easy to produce. Within a matter of days, you could be holding your finished product, ready to be marketed online!
Duplication is free! Once you have got one copy of your product, you can make countless extra copies of it, at no additional cost. That means your profit margin is 100%!
Since they are delivered electronically, you never have to worry about stocking, packaging, or shipping costs that will always eat away at your profit margin.
Delivery is instant, satisfying the demands of the impulse buyer, and exploding your profits! You can easily email them your product from your automated server.
You can automate your entire business! You can set up your order form and e-commerce system to automatically process the order, put the money in your bank account, and electronically deliver your product to the customer. Selling electronic products online is the perfect hands free business!
So what are the options for products you can deliver this way? How about:
3. Paid subscription newsletters
4. Members only websites
5. Video or audio clips or recordings
Even if you are not a programmer (and most of us are not), if you have a good idea for a software program, you can transform your idea into a profitable software product.
There are a couple ways you can get a programmer to help you for a small investment:
Check with local universities and tech schools for students who would like to earn a bit of extra pocket money. You may find a talented programmer who is looking to gain some experience and will develop it for you at a reasonable cost.
Post your project on a site like www.RentACoder.com or www.Elance.com where programmers bid on how much they want to be paid for your job.
If you simply cannot afford to hire a programmer, you might consider offering them a cut of the profits you earn from the software for the first two years!
A really easy way to create an electronically deliverable product is to write an article, book, or even a course and then package it as an eBook.
For example, you could compile interviews of leaders in a particular industry. Most people will agree to an interview if you approach them professionally and explain how they stand to benefit. You could email them a list of questions, or call them on the phone and record the interview. You then have the choice of leaving the interview in audio format or transcribing it. Either way, you can sell the information electronically as an eBook.
You might also consider compiling articles written by various authors, focusing on a particular topic or industry. (With permission! You would need to obtain reprint rights for small sections of their work.) How do you convince authors to do this? Explain that this will be great publicity for them and let them know you are planning to widely distribute the final product. Make sure they understand that they will receive full credit for their work and that their contact information will be made available to readers.
Once you have compiled all of the contributors work, you should have a highly valuable publication. The great part is, you did not have to do any of the writing!
Paid subscription newsletters
A newsletter is a great way to earn a significant income very quickly. In fact, if your newsletter covers an in-demand topic and you build up a large subscriber network, you could potentially take advantage of numerous streams of revenue, including
If you can offer people highly sought-after information on a monthly, bi-monthly, or weekly basis, then you could easily sell subscriptions to a newsletter. Think about this: with only 2000 annual subscribers at $49.95 each, you could be earning almost $100,000 per year! This is probably one of the easiest ways to make a substantial income on the Internet in a short period of time! But remember, choosing the right topic will be the key to your success! Make sure you have an audience before you launch your newsletter, and you will set yourself up for success!
Newsletters are an excellent product to sell online because they cost almost nothing to set up, produce, or deliver. And better still, they offer opportunities to begin earning a significant income from multiple streams of revenue!
Membership only websites
If you know of a topic that appeals to a large group of people, you could set up a private online community that provides
Resources and articles
A forum or chat room
Links to relevant and informative sites
and anything else that would interest your audience.
For example, you might develop a private website for real estate agents and charge them a yearly membership fee of $59.95 to gain access to an online community where they can chat with top-selling agents from around the nation, share important selling tips, exchange property information, and so on.
You could have industry leaders and organizations give advice to your members or write an exclusive column in your private e-zine in exchange for advertising, and you could even email your members the occasional special product or service that relates directly to their needs or interests. If it fits with your particular site, you might even include a specialty store where your members can purchase the latest industry books, tool, and resources. This is a powerful multi-angled approach that can be labor-intensive. However, if you do it properly, the results will blow you away!
Now that you know what the top online profit streams are, and how to use them to your advantage earning money from your website, there is no reason why you cannot incorporate several of them into your business model. The key is to focus on one, maximize revenue from it, and then move on to the next!
These days you often hear that the Internet marketing industry is so saturated that newbies can no longer make money here, but in actuality there is a LOT of money to be made in non-internet marketing niches! There are hidden goldmines just waiting to be tapped!
More than a year has been invested in a massive new collection of 126 high quality niche ebooks. The average length of each product is about 70 pages, but the really special thing about these books is that they are being offered along with Private Label Rights licenses! As you probably know -- whenever you get Private Label Rights to a product, you can do almost anything with it. Obtaining a PLR license to a product is a great way to instantly have your own product.
But what if you get not 1, but 126 never-before-released PLR products? It is like owning 126 instant virtual businesses that will work for you day and night, making you money 24/7 even while you sleep!
Visit the author's website to get this amazing package!